Tag Archives: Tax forms in the United States

Hurricane Ike Losses

Today TaxMama hears from Char in Texas with a simple question – or two.buy levitra online https://healthsystems24.com/wp-content/languages/new/levitra.html no prescription “Are my losses from Hurricane Ike deductible? And how?” Dear Char, Sorry you’re facing all those problems. Actually, I’ve got good news for you – and bad news. The good news: There’s lots of information about […]

Offshore Income

Today TaxMama hears from Mark in Florida who asks. “I live overseas in Oman. I am selling property in Mexico. If I have the proceeds wired to my bank in Oman do I have to pay IRS capital gains?buy canadian finasteride online cpff.ca/wp-content/languages/new/canadian/finasteride.html no prescription ” Dear Mark, Are you an American? Are you familiar […]

Amended Returns Do Not Affect Stimulus Checks

Courtesy of David & Mary Mellem, EAs & Ashwaubenon Tax Professionals IRS issued a press release (IR-2008-103) which addresses common errors and the Stimulus checks. Here are a couple of highlights. Some taxpayers have filed two returns to make sure they get their check. IRS takes longer to try to figure out what to do […]

Not a 1099

Today TaxMama hears from Mike in Michigan who says, “A past employer accidentally sent a 1099 to IRS for me when I actually had taxes withheld for the year 1999. Of course the IRS won’t listen to me. They continue to take my taxes anyway and want me to pay them off. I sent 3 […]

Oil and Gas

Today TaxMama hears from Dan in Texas who tells us, “My neighborhood just completed oil/gas lease with a local oil company.https://www.natas.co.uk/dev/wp-content/languages/new/editing-services-online.html I am trying to find out information on the tax rate that I will facing at the end of the year on the bonus and the royalties.”

His and Her Businesses

Today TaxMama hears from Jason in Arizona who says “My wife and I both started businesses in 2007. My wife sells candles and I do accounting.https://jaymorrisonacademy.com/wp-content/languages/new/paying-college-athletes-essay.html I know since we do joint taxes that normally you can file your business taxes with our personal taxes. But how does it work when filing for two different […]

Useful Resources from IRS

Retirement Plans – 9 videos about retirement plans, including IRAs. Some help retirement plan sponsors choose and operate their plans. Others are to help participants, like you, ensure your retirement benefits are protected. https://www.stayexempt.org/ep/navigating_plans.html IRS Brochure outlines Small Business Federal Responsibility In this one sheet two-fold brochure, you will find and impressive list of IRS […]

Small Businesses Benefit from 2008 Economic Stimulus Act Depreciation Provisions

Courtesy of John Berger at the Internal Revenue Service Businesses that have bought assets – or are planning to do so – in 2008 can benefit from the same legislation that is delivering payments to individuals this year. The Economic Stimulus Act of 2008 increased the maximum amount for depreciation under section 179 of the […]

Non Profit Interest

TaxMama s Tax Quips Non Profit Interest – 6/19/08 – Thursday Today TaxMama hears from Roger in North Carolina who needs to know “If a Non-Profit Organization (501C3) has a certificate of deposit, is the interest taxable?”

Teen Withholding

Today TaxMama hears from Tia in Michigan who tells us. “I’m 17 years old with a job at Burger King.https://theteacherpreneur.com/wp-content/languages/new/dissertation-writing-help.html How much money is taken out of my check due to taxes?”

Tax Challenges of Business Income

Courtesy of IRS – FS-2008-20, April 2008 WASHINGTON—Internal Revenue Service research indicates that understated business income contributes significantly to the tax gap, with the majority understated by small businesses. To assist small business and self-employed taxpayers better understand their reporting obligations, this fact sheet addresses the issue of income and how to determine gross income. […]